Pitney Bowes Announces Pricing Update for Delivery Services as Parcel Volumes Continue to Surge into 2021

Rhea-AI Summary

Pitney Bowes (NYSE:PBI) announced the reinstatement of pricing adjustments for its Standard and Cross Border Delivery services effective January 25, 2021. This decision responds to record parcel volumes and ongoing COVID-19-related operational costs. Patrick Allard, Chief Revenue Officer, noted the continuous impact of increased labor, transportation costs, and safety measures on operations. The adjustments aim to ensure clients can effectively plan for their shipping expenses as the company commits to transparent pricing amidst ongoing challenges in the logistics sector.

Positive

• Record delivery volumes in 2020 expected to continue into 2021 and beyond.
• Commitment to transparent pricing helps clients better plan shipping expenses.

Negative

• Increased operational costs due to labor, transportation, and safety measures stemming from COVID-19.

Pitney Bowes Inc. (NYSE:PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced that pricing adjustments implemented on its Standard and Cross Border Delivery services during the peak 2020 shipping season will be reinstated effective January 25, 2021 to account for unprecedented parcel volumes and COVID-19-related operating expenses continuing into the new year. The pricing will remain in effect until further notice.

“2020 was a record year for delivery volumes and we anticipate the pace of those volumes to continue well into 2021 and beyond,” said Patrick Allard, Chief Revenue Officer, Global Ecommerce at Pitney Bowes. “At the same time, increased labor and transportation costs, in addition to safety measures arising from the pandemic will continue to add operating costs for the foreseeable future. We’re committed to simple, transparent pricing and are making our clients aware of this adjustment now, so they can better plan for their own shipping expenses in 2021.”

About Pitney Bowes:
Pitney Bowes (NYSE:PBI) is a global technology company providing commerce solutions that power billions of transactions. Clients around the world, including 90 percent of the Fortune 500, rely on the accuracy and precision delivered by Pitney Bowes solutions, analytics, and APIs in the areas of ecommerce fulfillment, shipping and returns; cross-border ecommerce; office mailing and shipping; presort services; and financing. For 100 years Pitney Bowes has been innovating and delivering technologies that remove the complexity of getting commerce transactions precisely right. For additional information visit Pitney Bowes, the Craftsmen of Commerce, at www.pitneybowes.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201229005055/en/

FAQ

What are the new pricing adjustments for Pitney Bowes services?

Pitney Bowes is reinstating pricing adjustments for its Standard and Cross Border Delivery services effective January 25, 2021, due to increased parcel volumes and operating costs.

Why is Pitney Bowes adjusting prices now?

The pricing adjustments are a response to unprecedented parcel volumes and the ongoing COVID-19-related operating expenses that are expected to persist.

When will the new pricing take effect for Pitney Bowes?

The new pricing will be effective starting January 25, 2021.

What is the expected impact of the price adjustments on clients?

The adjustments aim to provide clients with the ability to plan their shipping expenses effectively amidst rising operational costs.